Completes $500M Fixed-Rate Debt Offering and $150M Revolving Facility

summarizeSummary

Jack in the Box Funding, LLC, a subsidiary, completed its previously announced securitized debt offering, issuing $500 million in fixed-rate notes at 7.624% and establishing a $150 million revolving credit facility.

check_boxKey Events

• Securitized Debt Offering Completed

  Jack in the Box Funding, LLC completed a previously announced securitized debt offering, issuing $500 million in Series 2026-1 7.624% Fixed Rate Senior Secured Notes, Class A-2.

• New Revolving Credit Facility Established

  The company also established a new Series 2026-1 Variable Funding Senior Secured Notes facility, allowing for drawings up to $150 million. On the closing date, $39 million was drawn, and $56 million in undrawn letters of credit were issued.

• Debt Refinancing and General Corporate Purposes

  Proceeds from the offering were used to repay $46.1 million of Series 2019-1 Class A-2-II Notes and $479.9 million of Series 2022-1 Class A-2-I Notes, totaling approximately $526 million in refinanced debt. Remaining proceeds are for general corporate purposes.

• Notes Secured by Company Assets

  The new 2026 Notes are secured by revenue-generating assets, including franchise-related agreements, real estate assets, and intellectual property.

auto_awesomeAnalysis

This filing confirms the completion of a significant securitized debt transaction, following the finalization announced on June 15, 2026. The company issued $500 million in fixed-rate notes at a 7.624% interest rate and secured a new $150 million revolving credit facility, with $39 million immediately drawn and $56 million allocated to letters of credit. The proceeds primarily refinance approximately $526 million of existing debt, with any remainder allocated to general corporate purposes. This move provides substantial capital and financial flexibility, crucial for a company of this size, though the 7.624% fixed rate represents a notable cost of capital.